The Role of XBRL on EMAS Reporting: An Analysis of Organisational Values Compatibility

Abstract

This paper proposes a measurement method for assessing the extent to which the XBRL digital standard eXtensible Business Reporting Language can assist firms in implementing their reporting when applying EMAS The EU Eco-Management and Audit Scheme. A specific survey based on the work of (Bunker et al., 2007), which uses Value Compatibility, was carried out at the most important firms in Southern Spain. Different sectors were involved in the study: public hospital, copper manufacturing facilities, petrochemical plant and pulp and renewable energy production. The results reveal some concordances between EMAS using XBRL as a reporting technology, and the cultural, organisational and technical working environment of the analysed firms, specifically those related to the Structural Dimension. By contrast, some discordance is highlighted related to the Practical Dimension. The paper proposes for the first time the application of the global financial standard XBRL for a non financial purpose like the widely accepted EMAS, to actual potential uses in real scenarios. The empirical research combined heavy industry with services, privately owned firms with public entities, private and public sector, in the analysis of this technology. The paper represents a necessary landmark for a subsequent longitudinal study.

Twenty years of XBRL: what we know and where we are going

“…Non-financial reporting is a heterogeneous and increasingly relevant field. Several papers focus their attention on sustainability reporting (Seele, 2016 and2017), while others emphasize environmental reporting (Muñoz et al, 2018;Satoh, 2011). These types of corporate reporting present shortcomings as they are not mandatory: companies are involved only on a voluntary basis and do not use standardized formats (Knebel and Seele, 2015).…”

“…In several papers, the object of the analysis expands from reporting to include wider corporate planning and control systems. Muñoz et al (2018) highlight the main internal and external advantages of merging XBRL with environmental reporting (Eco-Management and Audit Scheme -EMASreport) and assert that XBRL can be a useful tool to integrate EMAS issues into the firm's main control system. This could lead to a more coherent business strategy, thanks to the integration of EMAS information into the main company's control system.…”

Instagram: Balancing Information Asymmetry of the Tourism Industry

“…Additionally, future research may apply existing theoretical frameworks including psychological, cognitive and social factors to investigate companies' communication via Instagram. For example, the Value compatibility framework could be applied to consider structural, practical and cultural dimensions as in Flores Muñoz, Valentinetti, Mora Rodríguez, and Mena Nieto (2018). Also, the stakeholder theory offers appropriate lens to investigate the stakeholders' information needs and awareness towards the value creation process.…”